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Tax treatment of damages
Practical Law UK Practice Note 3-205-5372 (Approx. 26 pages)
Tax treatment of damages
by Oliver Gutman, Partner, Pennington Manches Cooper LLP
The tax implications of a settlement may be a determinative factor when considering whether to accept or make an offer. This note considers when awards of damages will be subject to tax as income or as chargeable gains and the tax treatment of the payment of damages.
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